HC Wainwright Reaffirms “Buy” Rating for Vir Biotechnology (NASDAQ:VIR)

Vir Biotechnology (NASDAQ:VIR)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Monday, Benzinga reports. They presently have a $110.00 price target on the stock.

Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price target on shares of Vir Biotechnology in a research note on Friday, November 1st. Barclays decreased their target price on shares of Vir Biotechnology from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vir Biotechnology currently has an average rating of “Moderate Buy” and an average price target of $36.40.

Vir Biotechnology Trading Up 2.9 %

NASDAQ:VIR opened at $9.64 on Monday. The business’s 50-day moving average is $7.77 and its 200 day moving average is $8.88. Vir Biotechnology has a 12 month low of $7.12 and a 12 month high of $13.09. The company has a market capitalization of $1.32 billion, a P/E ratio of -2.46 and a beta of 0.46.

Vir Biotechnology (NASDAQ:VIR) last released its quarterly earnings data on Thursday, October 31st. The company reported ($1.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.05) by ($0.51). The firm had revenue of $2.38 million during the quarter, compared to the consensus estimate of $5.54 million. Vir Biotechnology had a negative return on equity of 36.71% and a negative net margin of 678.40%. The business’s revenue was down 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.22) EPS. On average, research analysts forecast that Vir Biotechnology will post -3.26 earnings per share for the current year.

Insider Activity at Vir Biotechnology

In other news, Director Janet Napolitano sold 12,190 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $7.80, for a total value of $95,082.00. Following the sale, the director now directly owns 11,616 shares in the company, valued at approximately $90,604.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 15,940 shares of company stock worth $127,410. Insiders own 15.60% of the company’s stock.

Institutional Trading of Vir Biotechnology

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Vir Biotechnology by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 12,375,355 shares of the company’s stock worth $125,362,000 after buying an additional 78,216 shares during the period. Millennium Management LLC increased its position in shares of Vir Biotechnology by 94.6% during the second quarter. Millennium Management LLC now owns 1,248,131 shares of the company’s stock worth $11,108,000 after acquiring an additional 606,804 shares during the period. Bank of New York Mellon Corp increased its position in shares of Vir Biotechnology by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 813,288 shares of the company’s stock worth $7,238,000 after acquiring an additional 6,359 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Vir Biotechnology by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 637,486 shares of the company’s stock valued at $5,673,000 after acquiring an additional 58,360 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in shares of Vir Biotechnology by 8.2% in the first quarter. Empowered Funds LLC now owns 458,044 shares of the company’s stock valued at $4,640,000 after purchasing an additional 34,640 shares during the period. 65.32% of the stock is owned by hedge funds and other institutional investors.

Vir Biotechnology Company Profile

Vir Biotechnology, Inc, an immunology company, develops therapeutic products to treat and prevent serious infectious diseases. Its clinical development pipeline consists of product candidates targeting hepatitis delta virus (HDV), hepatitis B virus (HBV), and human immunodeficiency virus (HIV). The company’s preclinical candidates include those targeting influenza A and B, coronavirus disease 2019, respiratory syncytial virus (RSV) and human metapneumovirus (MPV), and human papillomavirus (HPV).